Summary
- bought more $PLTR, $HIFS, $PAR, and $JDC.DE
- fully sold $SNOW to finance the above - not necessarily bearish on $SNOW but felt much more confident in the other names, especially seeing $PLTR in the $7-8 range.
- still keeping an eye on $NICK but not sure what the catalyst would be to get above $5
While I’ve been bullish on $PLTR for a while, it was nice to see its surge amid recent profitability and the AI craze. Even after doubling this year, it’s hard to say it’s overpriced based on the sheer scope and capabilities of its platform (having 2B cash and no debt is a nice kicker too). I’ve been working with LLMs for a while now and it’s clear that operationalizing them will be vastly important, something that AIP seems well positioned to do.
I largely agree with the views Benjamin Miller has been expressing around an eventual recession, and his mid-year letter is a great exposition of those views backed by data (the best views usually are!). I’ll probably ease up on the equity inflows and focus more on Fundrise and other alternative investments in the short-term.
I recently re-read A Man for All Markets, Ed Thorp’s autobiography, and was amazed how much of the insight is still relevant today. I think the most important insight is just how well he designed his life to work on interesting problems and not get stuck in status or money traps like most folks. David Senra gives a great overview of the book in his podcast, showing why he uses Ed’s life as the blueprint for his own.